From startup to an open source giant. Docker valuation hits $1.3bn amid fresh funding round
New round places company’s raised cash at more than $250m as the container application market value soars to $2.7bn.
Open source software startup Docker Inc. is currently working on raising $75m as its software business grows, according to sources.
People familiar with the matter told Bloomberg the round is expected to close by the end of this month, which will push the company’s valuation to $1.3bn, up from $1bn in 2015.
One of the people said the raised cash will be invested in expanding Docker Inc.’s sales and marketing teams for corporate clients.
Data Economy has contacted the company, however, Docker Inc. has declined to comment.
Headquartered in Palo Alto, Docker Inc.’s main product is a free open source container software platform simply named Docker.
The platform allows users to run and manage apps side-by-side in isolated containers improving compute density.
It helps to automate repetitive tasks of setting up and configuring development environments taking away from developers the worry of having to manage the environment and allowing them to focus on building software.
The software has achieved more than 32,000 GitHub Starts, and registered more than eight billion downloads. There are today over 500,000 Dockerised apps in the Docker Hub and more than 3,000 community contributors.
Globally, the number of third party projects using Docker has grown to over 100,000.
The company has in May gone through a massive board reconfiguration with the appointment of former SAP executive Steve Singh as its chairman and CEO.
Ben Golub, Singh’s predecessor as CEO of Docker and also a co-founder, has stayed in the company as a director on Docker’s board.
Since inception in 2010, Docker has successfully conducted seven funding rounds raising nearly $181m. The more than 20 investors include Insight Venture Partners, Sequoia Capital and Greylock Partners.
In 2014, the company carried out its first acquisition buying Orchard. Since then, Docker Inc. has made seven other acquisitions, including Kitematic, Unikernel Systems, Conductant and Infinit.
The container application market is on its way towards $2.7bn in value by 2020, according to 451 Research.
Other big contributors in this space, such as AWS, have recently advanced their efforts by joining the Cloud Native Computing Foundation, of which Docker is also a member together with other companies such as Cisco, Microsoft, Google, IBM, Huawei and Intel.